Crypto debit cards latest?

el diablo wrote: »

Anyone receive their Crypto.com MCO Visa card yet? The Ruby Steel card (50 MCO tokens) is tempting.

The only European country they have started to ship to is the U.K. (very recently).

Other European countries are supposed to be imminent.

el diablo wrote: »

Anyone have an up to date list of which countries the MCO card is currently available for? Did a search but can't find an updated list.

It says here “Now available in the UK, USA & Singapore”. I think the U.K. is really just starting , the US have been available for a few month, and some Singapore cards have been around for a while and have also in some circumstances been issued to some people in other countries (but with SGD as the base currency).

The CEO has been tweeting about an EU-wide launch for the past few weeks and saying it is imminent and just pending some administrative tasks by Wirecard (he has already pushed his estimate date a few times though). Here is the latest:

https://twitter.com/Kris_HK/status/1256006899813638145

PS: you probably know this already, but you need to stake tokens for 6 months to get the card anyway, so if you want one you might as well get started now.

makeorbrake wrote: »

Has anyone come across a card that has no atm fees / fx fees (other than the standard visa/mastercard rate)?

Crypto.com doesn’t have those fees up to a certain monthly amount, and the amount depends on your card tier (see the different tiers here, the top 2 tiers really require A LOT of their own token and seem like a niche to me: https://crypto.com/en/cards.html).

At least on paper, their cards actually seem pretty good to me.

Crypto.com are now shipping their cards to Europe: https://blog.crypto.com/mco-visa-card-now-shipping-in-europe/

Shamo wrote: »

Mine is "issued" now, next step should be shipping status over next few days to Ireland hopefully. Two recent things worth mentioning are increased spending limits in EU and topup your MCO card with your debit card directly (with no fees).

Yep same here mine changed from “pending” to “issued” on Monday. I think there is a further status saying “shipped” and from there it is meant arrive within 10 working days.

The also added Apple Pay in the US recently, hopefully coming to Europe soon.

Bob24 wrote: »

Have you had any update on your card status from crypto.com? Mine hasn't moved and still says "issued".

Nope, still issued. I've been keeping tabs https://www.reddit.com/r/Crypto_com/comments/ghnkf1/eu_status_overview/ and don't think we're too far off shipping status.

Daithi40 wrote: »

thanks, pretty good info in that 20 mins - did you get a ruby card?

I didn't. I'm going to hold off. I thought I'd have to have one - but I'll just cash some crypto into FIAT and load my revolut instead. Will be watching closely though as these products will get more and more competitive as we go along.

Bob24 wrote: »

Looks like some people in Ireland have already received it: [url] https://www.reddit.com/r/Crypto_com/comments/gqvxyc/green_card_for_the_green_island_cant_wait_to_try/?utm_source=share&utm_medium=web2x[/url]

Mine went "shipped" this morning anyway.

When did you people order the card and when was it "issued" in your accounts?

Bob24 wrote: »

I staked the MCOs just over 6 months ago and it moved to issued last week.

I only staked my (50) MCO a couple of weeks ago. Anyway, keep us updated.

Mine has also been shipped but I'm out of the country for the foreseeable future. Hopefully I'm not personally required to sign for delivery of the card.

Card arrived today. It was regular mail with no signature required, posted from the UK.

Even though you know it is metal, it does feel heavy when you first grab it :-)

Looking at the first tier requiring MCO staking, I think the 2% cashback and full Spotify cashback is what is appealing to some people (besides that the card does what Revolut does in terms of interbank exchange rates).

But at the end the day besides those goodies I think the long term strong incentive is the fact that it is part of a broader ecosystem which crypto.com has even building (crypto loans, crypto deposits with decent interests, exchange, etc). Some people might not like it because it is bringing a lot of centralisation back into crypto, but it is convenient and there are good synergies between the different products. For exemple you can deposit bitcoins, get 6% annualised rate on then, and use those interests to instantly top-up the card and make purchases in fiat currencies with very little fees.

unkel wrote: »

That sounds extremely risky to me, for very little reward. I'd rather keep control of my coins myself (and make them work for me in other ways, without risk, like staking or master noding), or create coins through mining, using hardware that can be sold on as computer parts, again with very little risk.

Yes some people will reject the idea of bringing centralisation back into crypto and of handing their keys to a third party, and I completely understand that (my personal view would be to that a good compromise to get some reward while limiting the risk would be to self-store half of one's crypto holdings and spread the rest across 2 or 3 different services which generate yield - so that even if one of those services goes under the impact is limited).

Having said that I don't think it is fair to say 6% yield on Bitcoin (and 12% on stablecoins) is very little in comparison to the risk, knowing that we live in a world of zero to negative interest rates. I myself think it is rather high and would question how sustainable it is.

If you compare it to what you can get elsewhere, interest rates for high yield debt (polite word for junk debt) in the eurozone can be lower and for a very high risk profile (I believe BB rated bonds which are usually considered the beginning of the junk category will yield around 4%).

unkel wrote: »

I'd say to invest in an index linked fund of shares in blue chip companies would have an expected gain of more than 6% for a lower risk.

Not trying to argue either way and people will make their own choice, but for clarity if the 6% expected return of an ETF is to be compared with the 6% interest on bitcoin, the following should be taking into account: with the bitcoin deposit you are double-dipping, both getting the 6% interest rate and betting on long term price appreciation of bitcoin so the overall return you are expecting is significantly above 6%.

The 6% ETF envisioned gains alone should rather be compared with the 12% rate they pay on USD stable coins.

Don't get mixed up between the card and the app. The app has many features like earning deposit interest on various coins, taking out a loan using crypto, exchange fiat <> crypto and crypto <> crypto, actually being able to deposit and withdraw crypto unlike Revolut, buying gift cards to spend in shops with cashback rewards etc. If you want more reward for the risk, deposit/buy CRO and earn 18% APR.

The card offers little benefits if you can't stake MCO to get a higher tier so it's really for people that have MCO or can afford the stake without putting a high % of their portfolio in.

Worth reading https://crypto.com/en/security.html

Bob24 wrote: »

Card arrived today. It was regular mail with no signature required, posted from the UK.

Even though you know it is metal, it does feel heavy when you first grab it :-)

Also received my card today apparently.

I'd signed up for the MCO card ages ago and completely forgot about it.

The Spotify offer for staking 50, and the 2% cashback will see move a lot of my renewals and subs there from Revolut.

Revolut's actions during the week, with giving some support staff the choice to resign or be fired leaves quite a poor taste tbh.

So if I can find a card/app that offers similar benefits with no fee, I'm moving.

unkel wrote: »

It's a reality of business tbh. Just heard about the redundancies and wage cuts in the company I work for myself. Both pretty severe.

It certainly is, but there is quite a difference between a planned exit and a figurative gun to the head.

Threatening staff with resignation and a token severance, or dismissal is incredibly poor management.

They are a disruptor in a competitive industry, they will take knocks however, if that's how they approach headcount management and it's presentation?
I'd honestly wonder what else they cut corners and spin.

They had announced redundancies, filled them and then initiated a further headcount cut under the guise of natural wastage.

It's a sneaky and outright disrespectful way to treat staff.

On the topic of Crypto cards and their benefits.

Is anyone using CryptoEarn?
Have some stuff I'm hodling and the idea of a return over and above the principle is quite attractive IMO.

I stuck 50 MCO into the account to get the 2% CB and free Spotify.
Will likely start using it as my main card when it gets here.

Crypto Earn works as advertised and as said above there is indeed the obvious caveat that you have to accept giving control of your crypto to a third party. The other thing is that to get the best interest rates you have to have a 500 MCO stake and to deposit your other coins for 3 months terms, but doing that I believe you are getting some for the best rates on the market (if not the best - currently 6.5% on bitcoin and 12% on stablecoins).

But I wouldn’t go all in on Crypto Earn (nor any other similar platform) as there always is a small risk. My view is that the right thing to do is to only put a potion of someone’s crypto holdings on this type of platform, and to split that amount at leat across 2 different ones to spread the risk. And I’d definitely include Crypto Earn as one of of those platforms.